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Overview

Transaction Recode will give you the ability to move in bulk, transactions from one account to another at the click of a button.

This will save you a huge amount of time when fixing up an incorrect account recorded in any of the following scenarios:

Uploading a CSV file

Migrating a fund

Manually coding entries

The following investment account recodes are supported:

From

To

Unitised investments

Unitised investments

Unitised investments

Non-unitised investments

Non-unitised investments

Term deposits

Bank

Bank

Term deposit

Term deposit

Bank

Recoding from non-unitised investments to unitised investments is currently not supported.

Unitised to non-unitised

Recoding from unitised to non-unitised investment (including banks and term deposits) will remove all CGT entries and unit balances. This process cannot be reversed.

Information brought across

The following information is brought across when an investment is reclassified:

All linked accounts to the recoded investment such as dividend accounts (23900) will be allocated during the transfer to their corresponding account;

Balance history for the investment and linked accounts will be transferred to the changed account (each transaction will be moved as at their transaction date in the ledger); and

Unique security code

To reclassify an investment account, the security code attached to the investment account must be unique to the fund. In addition, only investment accounts attached to one fund can be reclassified currently.

Navigation

From the Main Toolbar, go to Accounting.

Select Transaction Recode.

Instructions

Select Transaction Recode.

Investment is selected. In phase 1 only investment account reclassification is available. Move to step 2.

Select the investment account to reclassify. All linked accounts will appear. Linked accounts will be moved to their corresponding linked account during reclassification.

Select the new control account range to reclassify the account to.

Select Confirm.

Validation Errors

If an investment account has any of the following items affecting it, Simple Fund 360 will not allow the transaction recode to proceed:

Disposals with capital gains associated with the event

CGT Relief applied to reset the cost base of the investment

Corporate actions applied to the investment account

A summary will appear including the user which actioned the change.

Delete/Reverse a Transaction Recode

Deletion/reversal of a previously completed Transaction Recode is to re-process the recode back to the original account.

In the above example account 77250/TOORAK was reclassified to account 77200/TOORAK.

To reverse, complete a reclassification from 77200/TOORAK to 77250/TOORAK.

Unitised Investment to non-unitised investment

Please note that moving from a unitised investment to a non-unitised investment (including Banks and Term deposits) cannot be reversed.

User Roles

Only the Admin and Employee user roles will be able to access the Transaction Recode function by default.